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Was it a surprise to anyone that this happened?
As I said from the start...it's all a big game filled with thieves.
Now it's "Let's change CEO so we can say we have a NEW direction!"
Time for phase two...increase the float to over 1 Billion shares and start DUMPING!
Remember INSTITUTIONAL INVESTORS own all of the shares from the increase in authorized/outstanding shared.
It really doesn't translate to anyone converting and selling stock on the open market.
Because a stock promoter said that it's much better for someone to do a stock buyback at $6 versus buying out the entire float for pennies?
err I mean, someone really smart behind this incredibly complex deal that no one has answers for!
Volume is up because you have to sell a good amount of shares to amount to much cash when you're trading at under 3 cents...
Even though their initial announcement made it seem like you HAD to buy your shares before the date (to create a buying frenzy), after the date passed they said it doesn't matter when you buy the shares, just as long as you held shares available in the float (non-certificate) on the date of the buy out.
I'm going to assume that whomever has been steadily dumping this stock the past month and a half is going to buy it all back right before the date? Why sell shares for 3 cents when you can sell them for SIX DOLLARS?
What happened here?
Ghost town the past couple of days...
Very true, the company has not been very clear on what exactly is going to happen, but a "shareholder of record" is, by definition anyone who is recorded on the books of the company (which the TA keeps). I don't actually hold out that they are worth $6/share...only that they are worth whatever the market is trading at right now.
My shares are still valid, I know that much, and were purchased 3 years ago for a nominal sum at the time.
1. I'm not an affiliate.
2. An opinion letter is not a problem. "Issuers permission" only means their acknowledgment that the shares are real...and if they are not, then the TA and Issuer have other issues to deal with.
3. My post was sarcastic...there are a lot more than a "few million" shares out there. We both know that.
I know the SEC won't step in to help free restricted shares, they don't care at all. I simply meant that, if something else is going on between the TA and issuer, then the SEC gets involved. So, like my post said. As long as you produce proof of ownership of the shares (along with an opinion letter) and you hold the shares for one year, the restriction is lifted.
This is not my first rodeo...
Either way, the PPS doesn't matter...in fact, the lower it is the better...easier to buy more shares to cash out at $6, right?
What would stop shares that are three years old from becoming unrestricted? They simply need to be held one year and then show the transaction that purchased them. Any other details surrounding the certificates in questions is up to the SEC to decide as far as I'm concerned.
Besides, why do I care what the PPS is, I'll get paid $6 per share for these in February, right? "Shareholder of record" is anyone on the shareholder list. Why do ANY of you care what the PPS? It can go to .0001 and you'll still get $6/share, right?
You guys are also basing your information on "financials" posted to pink sheets 3 years ago...do you think nothing has changed since then?
So Mr. Saviano and all of these guys come in and get NO shares out of the deal? They have to go buy it on the open market through this buy back deal? Well that says they are complete idiots to spend $36M to buy the float of a pink sheet shell.
It's okay, keep dancing circles around the issues at hand.
I 100% agree with you on that one!
I can even line up more shareholders if the company wants to show up in Los Angeles and discuss. I wager I could get at least 25,000,000 shares from a few of us and they could buy all of that for a HUGE discount to their $6 price.
I'd happily sell the company my shares for 10% their value right now.
IT WILL CLOSE AT $4 TODAY BECAUSE IT IS FRIDAY MARK MY WORDS. EVERYONE BUYS THE LAST 30 MINUTES.
Am I doing it right?
Those shares were from a different deal 3 years ago. Things have changed significantly since then.
Anyway...we'll see how this plays out.
So we're supposed to believe that They want to dump $36 million to benefit the original shareholders of FGBF and whatever people they can get dragged into the stock before February? Got it!
They could Do an S1, buy a pink sheet, or buy an OTCBB and put $36M cash in the bank and reflect the "true value" much easier and cheaper.
Really...in 2010, someone is paying $36M simply for the benefit of shareholders in a pink sheet deal?
2/3rds of my questions were not answered.
I'm not attempting to smear anything, you made it seem as if you were responding on his behalf in your post. Just pointing it out to make sure everyone understands.
I got my response from the Irish government and that's enough for me.
I'd also like to point out that the company having an individual (FACT CHECK) on this message board posting approved responses is probably in violation of Regulation FD
http://www.sec.gov/rules/final/33-7881.htm
So I got an email reply from "Alan Coleman" from a gmail address (Red flag #1, why did he not reply using his "government" email address?).
But, the email stated that the letter was simply a courtesy letter sent to anyone with interest. It implys no cooperation unless FGBF/World Corproate Assets shows up with cash.
Way ahead of you and already sent them an email. I was just pointing out that the address was cut off.
Also, stop talking about your broker because, obviously, you and your broker don't know how DTC and your TA work. The TA no longer interacts or knows anything about your shares once they are in street name.
Why don't you call the TA and ask? Laura is a very nice lady.
Alan Coleman (MCC) is the Kinsale Harbor Commissioner according to google.
You mean the letter which has the right side cut off so you can't get the full address or email address?
You know I said the exact same thing 3 times now...but somehow this TA and Company has a different way of doing things.
Shareholder of record is someone WITH a certificate, not someone with sahres in street name and a BD never communicates street action with the TA.
Like I said before, the only way to get that information is with a NOBO list (which does NOT come from the TA) and that NOBO list is never complete as people can opt out of that as well.
There is only one way to actually verify, but we'll see what happens here...
I'm glad you're happy with the Irish side of this deal. I only bring up the same points because people refuse to acknowledge them. Why, in your opinion, do you think the Irish management decided to play with a garbage pink sheet company? There are plenty of OTCBB companies that would play ball, a new registratino isn't that hard, or even just buying, out right, a clean shell to start with.
I also doubt that the handful of comments on ihub drive the price anywhere...
Got it...that makes more sense that you're brought on to make posts and clear information for iHub.
I would assume that any corporation can request, from NAMA, the ability to buy assets which are for sale, right? I would hope NAMA would support FGBF if FGBF said they had $5 BILLION to spend on real estate.
I'm already dealing with the transfer agent. Mr. Saviano can look at a shareholder list and see shareholders of record, no? I'm not sure I understand what you're asking. Do you work for the company and simply want to see a copy of my cert?
Care to actually discuss anything about this stock or just post nonsense in all CAPS?
Do you know how difficult it is to short a bullshit pinksheet stock?
The margin requirements are stupid to short deals like this. For every $10,000 in margin money at risk I would only stand to gain $2,000. So yes...I've got $100k just hanging out to put up as margin to short this, you caught me.
"short selling" and "short squeeze" is just promoter speak 90% of the time. Market Makers and institutions are the only people who really short this crap, and all of that information is publicly available from FINRA for anyone with half a brain.
Although, I guarantee some MM out there is happy to sell short shares...they know this thing is going down.
Mr. Reda is part of World Corporate Assets, so it is very relevant to this discussion. If you'd like proof of "accusations", then simply look on google...SEC and California Superior Court records are easily found.
But, of course you won't discuss any of the matters I brought up.
I'm not here to try and pump up the price to sell stock, I'm just trying to shed a little light and see if anyone can actually discuss without resorting to "you don't understand a reverse merger" or "you don't like risk" or "It's going to $4 at the close, I promise"
Care to respond to any of my questions?
No, not mad at all. I just find it comical and have watched these Albert Reda things unfold many times. I've got a pile of GDTK shares too.
It's rather interesting that people can argue that this looks legitimate when everything says it's not.
People would rather talk about the stock going to $6, how taking risk is fun, how talking trash automatically means you have an agenda.
Instead, we could be discussing why they claim to have $36M cash (yet reside in a family law practice in a strip mall), have access to $5 BILLION (good lord...) to invest in Ireland, why they increased the authorized to 1 BILLION shares, why some of the principles of the company have participated in stock scams in the past, etc. (does anyone even bother to use google?) and be much more productive...
I guarantee that it will be 5 Billion by the time this deal is over.
If anything, they could save themselves money (Nevada charges more for authorized that high) and just reduce it...I mean they are only dealing with the 29 million shares, right?
...and so it begins.
What reason would they have to increase the authorized to 1 BILLION if they are planning on buying back shares for $6? Oh...that's right...because they need to sell enough stock to make some cash when this thing is trading sub penny.
If you REALLY want to do some DD, look into Albert Reda, IBUI / SMWF / GDTK garbage. This is just more of the same.
...so does anyone want to explain why they need 1 BILLION authorized shares?
Why a company who claims they will invest 5 BILLION DOLLARS is bothering with a pink sheet shell?
Why a company who claims to have $36M cash burning a whole in their pocket would want to pay that to shareholders of a pink sheet shell?
So a generic letter from the Irish government saying "Yes, we're happy to let you invest in our country".
but wait....FIVE BILLION DOLLARS.
You've got to be kidding me. FIVE BILLION dollars over the next two years and these guys are screwing around with a pink sheet deal? Seriously?
Why on earth would someone with $36M sitting around, let alone access to FIVE BILLION bother messing with a Pink Sheet stock?
I never said we own all of the float. I said we own almost the entire outstanding (as listed). 29M INCLUDES the 7M float. So either the 29M outstanding number is wrong, or me and a few other collectively control the company by owning more than 50% of the total shares. Which would mean we have the right to stop this charade...but you and I know that's not the case and there are far more than 29M shares out there when fully dilluted.
My shares are no longer restricted, I just never scanned in the unrestricted cert as it went to my broker. I kept the original scan for my records before I sent it in for legend removal.
But hey, it's trading at 30 cents because of "bashers" like me and profit taking right?
Sometime in the next 2 weeks this board will be flooded with phrases like "Short Squeeze"
Yeah, we know...you're argument is "it is better to risk your money and lose than not to risk at all" which means nothing
Interesting...
"shareholder of record" means someone who has purcahsed shares from the company directly and is listed in their registry. That does not mean people who simply own shares bought on the open market.
Bad wording on their part? Or just something you don't realize?
I'm a shareholder of record from years ago. I posted my certificate as proof a couple of pages back. If you believe the published numbers, I own over 10% of this company long before this Ireland setup. But, I assure you, the outstanding and float are much more than the published numebrs from 3 years ago.
I'm here just to see what's going on with a dead deal and I see all of this nonsense.
...you guys know it's perfectly legal for the company to buy back shares on the open market, right? But, then they can't put out a press release saying "THIS IS WORTH $6" Why on earth would someone want to pay $6/share for a Pink Sheet when you can go out and buy a pink sheet shell for $75k or buy an OB shell for $300k or just get your investors together and do a registration?
The companies own response to you smelled of bullshit.
Basically they told you that you had to buy shares prior to November 5th to be eligible for the tender offer.
Then they followed that saying that "Shareholders of record" are eligible for the tender offer. This includes ALL INDIVIDUALS with certificates (including the one I posted) and that is a LOT MORE than 6M shares.
Then he further says that you can sell your shares and RE-BUY them in the market "at a much higher price than you pay today" and STILL be eligible.
Of course, the transfer agent doesn't have the actual names or ANY information from individuals who buy stock on the street, the company would have to buy a NOBO list for that and people can OPT OUT of the NOBO list as well...
...I guess if you read between the lines, your communication from the CEO of the company is a little "fishy"
But, I'm labelled as a "basher" because I have issues with the company. I guess it's easier to call me a "basher" than it is to actually come back with logical responses. Instead we've got guys saying "IT WILL BE $4 AT THE CLOSE" and "IF YOU DIDN'T BUY IT, YOU CAN'T HANDLE RISK!" Very logical arguments there.
What about where I posted that the company is based in a strip mall and shares the address with a divorce lawyer? What about the American side of management and their shady past? What about the obvious lies about shares outstanding? etc etc etc.
Oh wait...$4 end of market on Friday...err...30 cents.
So in your digging into the people invovled with the company you came across the fact that "Anthony" has run another garbage company or two and "participated" in other unfulfilled R/Ms?
...and you saw that Albert Reda (who owns FGBF) is king of garbage penny stocks? I think he completed 7 reverse splits in a period of 9 years with SMWF (now GDTK) and every time drove them back down to .0001 in price will pocketing millions and each time claiming big contracts with major people were "in the works"
...but hey, maybe they turned over a new leaf, right?
Show proof that someone associated with the company sold no shares.
You keep claiming "FACTS", but you can't back anything up. I posted my proof, it's time you showed how you know it's FACT that the float and outstanding hasn't changed. How it's FACT that no one inside to the company is selling shares.
If I have 3.1M shares (11.5% of the claimed oustanding) do you really think I'm the only one? I know a group of people with shares totalling far more than the listed outstanding. But, of course the information from 2008 can't be wrong, right?
and you really think people were scared at the close and sold? Scared of what? Someone dumped about 275,000 shares to make some sweet cash for the weekend. Do you really think random investor had $40-50,000 wrapped up in this and they just happend to "get scared" on Friday?
proof?
http://myph.us/pics/97339_fgbfcertcopy.jpg
2007 is more than 1 year old...no longer restricted...
Good luck guys, just wanted to point out what is going on.
See ya when we're all millionaires after this $6/share buy out :)